Joann Fabrics is closing 500 stores nationwide amid financial struggles, including multiple locations in New York. The company, which previously filed for bankruptcy in March, again sought Chapter 11 protection in January, citing efforts to restructure debt and maximize business value.
Among the closures, the Ithaca store at 2309 Triphammer Rd. and the Canandaigua location at 3225 State Route 364 will shut down. These closures are part of a broader downsizing strategy, with Joann citing careful evaluations of store performance.
Customers and employees in affected areas now face uncertainty as the company navigates its financial challenges. More store shutdowns could follow as the retailer finalizes its restructuring plan.
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